American Tower Co. (NYSE:AMT) Shares Bought by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co lifted its stake in shares of American Tower Co. (NYSE:AMT) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,585 shares of the real estate investment trust’s stock after acquiring an additional 2,412 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in American Tower were worth $2,320,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Balentine LLC purchased a new position in shares of American Tower during the 3rd quarter worth about $586,000. Nordea Investment Management AB lifted its holdings in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of American Tower during the 3rd quarter worth about $1,156,000. TigerOak Management L.L.C. purchased a new position in shares of American Tower during the 4th quarter worth about $1,102,000. Finally, Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 6.2 %

Shares of NYSE:AMT opened at $203.84 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a 50 day moving average of $185.84 and a two-hundred day moving average of $207.01. The company has a market capitalization of $95.25 billion, a price-to-earnings ratio of 86.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company earned $2.29 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley cut their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.00.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.